Insider Selling: Veralto Co. (NYSE:VLTO) SVP Sells 590 Shares of Stock

Veralto Co. (NYSE:VLTO) SVP Surekha Trivedi sold 590 shares of Veralto stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total value of $59,206.50. Following the transaction, the senior vice president now directly owns 8,470 shares in the company, valued at approximately $849,964.50. This trade represents a 6.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Veralto Stock Up 0.7 %

VLTO opened at $99.83 on Friday. The business has a 50 day moving average price of $101.12 and a 200 day moving average price of $105.70. Veralto Co. has a twelve month low of $85.70 and a twelve month high of $115.00. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.69 and a current ratio of 1.92. The firm has a market cap of $24.71 billion, a P/E ratio of 29.89, a price-to-earnings-growth ratio of 4.24 and a beta of 1.06.

Veralto (NYSE:VLTO) last posted its earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.05. Veralto had a return on equity of 49.29% and a net margin of 16.04%. Research analysts forecast that Veralto Co. will post 3.66 EPS for the current year.

Veralto Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were issued a $0.11 dividend. This is a positive change from Veralto’s previous quarterly dividend of $0.09. This represents a $0.44 annualized dividend and a yield of 0.44%. The ex-dividend date was Tuesday, December 31st. Veralto’s payout ratio is 13.17%.

Institutional Investors Weigh In On Veralto

Several institutional investors and hedge funds have recently added to or reduced their stakes in VLTO. Ashton Thomas Securities LLC acquired a new position in shares of Veralto during the third quarter worth approximately $25,000. Bernard Wealth Management Corp. acquired a new position in shares of Veralto during the fourth quarter worth approximately $25,000. OFI Invest Asset Management acquired a new position in shares of Veralto during the fourth quarter worth approximately $26,000. BankPlus Trust Department acquired a new position in shares of Veralto during the fourth quarter worth approximately $29,000. Finally, Albion Financial Group UT lifted its holdings in shares of Veralto by 2,100.0% during the fourth quarter. Albion Financial Group UT now owns 352 shares of the company’s stock worth $36,000 after buying an additional 336 shares during the last quarter. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on VLTO shares. Stifel Nicolaus lowered their target price on Veralto from $116.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Royal Bank of Canada lowered their target price on Veralto from $111.00 to $110.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 6th. Citigroup lowered their target price on Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a research note on Monday, January 13th. Finally, Jefferies Financial Group initiated coverage on Veralto in a research note on Thursday, December 12th. They issued a “buy” rating and a $125.00 price target for the company. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $112.55.

About Veralto

Veralto Corporation provides water analytics, water treatment, marking and coding, and packaging and color services worldwide. It operates through two segments, Water Quality (WQ) and Product Quality & Innovation (PQI). The WQ segment offers precision instrumentation and water treatment technologies to measure, analyze, and treat water in residential, commercial, municipal, industrial, research, and natural resource applications through the Hach, Trojan Technologies, and ChemTreat brands.